South Korea tightens grip on high-risk ETFs as investor losses mount
South Korea’s financial authorities are weighing tighter curbs on high-risk leveraged exchange-traded funds (ETFs) as part of broader efforts to stabilise the country’s notoriously volatile stock market, which has left many investors with heavy losses and mounting debt. The proposals could include giving regulators the power to reduce the leverage ratio of single-stock ETFs and raising the…
South Korean President Lee Jae Myung has called on authorities to increase support for those affected by a record-breaking heatwave in the country, which has resulted in 16 deaths. The temperatures in Yangsan, a southeastern inland city, reached a staggering 42.5°C on Sunday, the highest in 122 years of weather observations. The Korea Meteorological Administration issued its first-ever heatwave warning for parts of Seoul and neighboring Gyeonggi on Monday, extending this to all of the capital on Tuesday.
Scientists attribute the increase in extreme weather events to climate change, which is becoming more frequent and intense. In Seoul's affluent district of Gangnam, access to air conditioning has become a key differentiator between the wealthy and those struggling to cope with the heat. However, in one of Seoul's last shanty towns, residents like 65-year-old Baek Su-hyun are suffering in the severe heat, with temperatures inside their homes often exceeding 40°C.
Written by urgent.news from Channel News Asia's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 2 other outlets
- South Korea's Lee urges authorities to step up support as heatwave kills 16 channelnewsasia.com
- South Korea’s Lee urges authorities to step up support as heatwave kills 16 freemalaysiatoday.com
